Global Guided Ammunition Market size is projected to be valued $XX Billion by 2024; with a CAGR of XX% from 2017 to 2025. Guided ammunition also called as precision-guided munition is a directed ammunition designed to precisely hit a definite target. It relies on its own guidance or external guidance system. They are also known as smart weapon, and smart munition. This technology has arrived using radio control, wire guidance, and others primarily to hit the targets the moving target.
The guided ammunition market is primarily driven by factors such as increasing regional conflicts across the globe, and rising terrorist activities coupled with tactical innovations. However, extremely complicated guidance system, and restricted range of maneuverability are some of the aspects that may decline the market growth. Moreover, advancement in technology with ongoing R&D, and growing demand for precision guided ammunition worldwide is expected to generate numerous growth opportunities for the market in the forecast period.
The global guided ammunition market is majorly classified on the basis of product, platform, technology, and geography. By product the market comprises munitions (guided bombs, and target pods), missiles (anti-tank & standoff missiles, anti-ship & anti-submarine missiles, and air-to-air & air-to-surface missiles), precision guided firearms (smart guns, small smart weapons, and shoulder fired weapons), guided rockets (anti-tank & tactical rockets, anti-submarine, and air-to-air & air-to-surface), and guided projectiles (artillery shells, mortar rounds). The classification by platform consists air, naval, and land. On the basis of technology, the guided ammunition market is further categorized into laser, radar, infrared, GPS, and other technologies (Include satellite, optical, wire-guided, and micro computing).
Based on geography, guided ammunition market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Orbital ATK, Lockheed Martin, The Boeing Co., Raytheon Company, General Dynamics Corporation, BAE Systems, Textron, Inc., L-3 Communications Ltd., Israel Aerospace Industries, and Northrop Grumman Corporation, among others.
The report covers
Scope of the Global Guided Ammunition Market
Product Type Segments
Platform Type Segments